Mortgage and Financial News From 2007-11-7
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New Duke Credit Union Office Offers Convenience, Technology
Duke University - ... conduct home-buying workshops, and the expanded mortgage department offers home loans for 100 percent financing with five-year fixed rate options and competitive rates, rather than adjustable rate mortgages. “We are educators first, lenders second ...
2007-11-07 05:56:00 -
Societe Generale Profit Declines 12% on Writedowns (Update3)
Bloomberg - Nov. 7 (Bloomberg) -- Societe Generale SA, France's second- biggest bank by market value, reported a 12 percent decline in ... Generale based its writedowns on a ``worse-case forward-looking scenario'' that total industry losses from subprime mortgages ...
2007-11-07 03:11:00 -
Texans OK recorded votes, $3B in bonds for cancer research
Denton Record-Chronicle - Second mortgages: Clarifies some of the rules for seeking a second mortgage. Disabled veterans' homesteads: Paves the way for laws giving a full ad valorem tax exemption on homesteads owned by totally disabled veterans. It ...
2007-11-07 04:23:00 -
Bond Risk Climbs to Highest Since August on Writedown Concerns
Bloomberg - ... on their debt rose to the highest since August on concern banks face more writedowns on bonds linked to subprime mortgages ... Morgan Stanley, the second-biggest U.S. securities firm, may lose as much as $6 billion, David Trone, an analyst at Fox ...
2007-11-07 05:20:00 -
Ex-Freddie Mac CEO settles for $16.4 million
Baltimore Sun - The events shocked Wall Street, where Freddie Mac, the nation's second-largest buyer and guarantor of home mortgages, long had enjoyed a reputation as a steady performer and reliable corporate player. A year later, major accounting problems were found ...
2007-11-07 12:20:00 -
French bank Societe Generale 3Q net profit falls 12 percent
MSN UK News - France's second-largest bank by market value said it had euro404 million (US$587.7 million) in write-downs and losses related to the crisis provoked by risky U.S. residential mortgages. Market conditions are "gradually improving," but are still not ...
2007-11-07 04:37:00 -
European Stocks Fall; Axa, BMW, British Airways Lead Declines
Bloomberg - Axa SA, Europe's second-largest insurer, and automaker Bayerische Motoren Werke AG paced the drop by companies that depend ... The measure has retreated 3.3 percent so far this month as investors speculated losses related to subprime mortgages, a ...
2007-11-07 08:12:00 -
Polo Says Profit Tops Estimates, Cuts Annual Forecast (Update4)
Bloomberg - Nov. 7 (Bloomberg) -- Polo Ralph Lauren Corp., the designer of Chaps and Club Monaco clothing, reported second-quarter ... anticipates the smallest holiday sales gain in five years as consumers cope with higher costs for food, fuel and mortgages ...
2007-11-07 08:41:00 -
France: Societe Generale's 3rd-quarter profit falls 12 percent on ...
MSN UK News - France's second-largest bank by market value said it had euro404 million (US$587.7 million) in writedowns and losses related to the crisis provoked by risky U.S. residential mortgages, with euro230 million (US$334.6 million) related directly to ...
2007-11-07 06:25:00 -
The bosses who gambled and lost
The Independent - ... the US Treasury Secretary, whose job it is to reassure markets when not a few analysts are recalling his tenure as head of Goldman Sachs at a time when that bank also was accumulating some $37bn of bonds backed by sub-prime loans or second mortgages. ...
2007-11-06 04:13:00 -
Societe Generale's 3rd-quarter profit falls 12 percent on asset ...
CNBC - France's second-largest bank by market value said it had euro404 million (US$587.7 million) in writedowns and losses related to the crisis provoked by risky U.S. residential mortgages, with euro230 million (US$334.6 million) related directly to ...
2007-11-07 06:03:00 -
Commerzbank names chief and details subprime write-downs (International Herald Tribune)
Commerzbank named Martin Blessing as chief executive Tuesday and said its total write-downs related to the U.S. subprime crisis were €337 million during the second and third quarters, more than expected.
2007-11-06 12:14:46 -
Societe Generale Profit Declines 12% on Writedowns (Update1) (Bloomberg.com)
Nov. 7 (Bloomberg) -- Societe Generale SA, France's second- biggest bank by market value, reported a 12 percent decline in third-quarter profit on writedowns linked to the U.S. subprime mortgage market collapse.
2007-11-06 11:09:57 -
Societe Generale Profit Declines 12% on Writedowns (Update3) (Bloomberg.com)
Nov. 7 (Bloomberg) -- Societe Generale SA, France's second- biggest bank by market value, reported a 12 percent decline in third-quarter profit as fixed-income writedowns outweighed gains in consumer banking and equity derivatives.
2007-11-07 03:14:30 -
ICBC report predicts possible accelerated appreciation of yuan
Xinhua News Agency - ... published Wednesday on the China Securities Journal stated that a recent interest ... We should not only focus on the foreign exchange rate fluctuation in one ... Worried that the subprime mortgage crisis would drag the American economy into ...
2007-11-07 03:26:00